Nationwide Building Society has announced that 2,700 customers have registered for a complimentary six-month energy switching service on its website, with one-third of participants opting for green energy tariffs.
This innovative service is powered by Switchd, an energy comparison startup in which Nationwide invested two years ago. Switchd’s tool consistently monitors the energy market for the most cost-effective deals, making automatic switches for customers if a better tariff becomes available.
In response to growing environmental concerns, Switchd also enables users to switch exclusively between green energy suppliers. This initiative aligns with Nationwide’s commitment to allocate £1 billion towards reducing the carbon footprint of homes across Britain.
Claire Tracey, Chief Strategy and Sustainability Officer at Nationwide, stated, “Thousands of our members have saved an average of £248 on their annual energy bills through switching. Furthermore, a significant number are contributing to emission reductions by selecting green energy, leading to a collective decrease in carbon output.”
Switchd carefully considers any exit penalties associated with early contract termination to ensure that the benefits of switching remain intact. Customers are notified via email as they begin the switching process and are provided with a two-week window to cancel if they reconsider.
Following the initial six-month complimentary period, users have the option to continue on one of Switchd’s paid plans, starting at just £1.99 per month. Additionally, a free version is available that connects subscribers with suppliers who pay a commission.